How does Financial Crime Risk Intelligence compare to UltraFICO Score?

ComplyAdvantage's Financial Crime Risk Intelligence solution equips organizations with actionable insights to identify and mitigate risks associated with financial crime. This platform aggregates data from global sanctions lists, PEP databases, adverse media sources, and other risk indicators to provide a comprehensive view of potential threats.

The solution employs advanced analytics and visualization tools to uncover hidden connections and patterns, enabling businesses to make informed decisions. Real-time updates and alerts ensure that organizations remain aware of emerging risks and can take proactive measures to address them. Its customizable dashboards and reporting features offer flexibility in tailoring risk intelligence to specific business needs.

By providing a holistic view of financial crime risks, ComplyAdvantage's Financial Crime Risk Intelligence solution enhances decision-making, supports compliance efforts, and fosters a secure business environment.

The UltraFICO® Score is an innovative credit scoring model that incorporates consumer-permissioned data from checking, savings, or money market accounts. By evaluating factors such as account history, transaction frequency, and evidence of savings, it provides a more comprehensive view of a consumer's creditworthiness. This approach aims to broaden access to credit, particularly for individuals with limited credit history, by reflecting responsible financial behaviors not captured in traditional credit reports. :contentReference[oaicite:1]{index=1}

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• 🏆 Ranked - Major Player by IDC (2024)
• 🏆 RiskTech100 2024 - Ranked 5 by Chartis (2024)

ComplyAdvantage, founded in 2014, is a RegTech company that specializes in providing AI-driven financial crime risk detection and anti-money laundering (AML) solutions. ComplyAdvantage leverages artificial intelligence, machine learning, and natural language processing to offer real-time risk insights and AML data solutions.

The company provides a range of services, covering:

- AML onboarding and monitoring
- Transaction monitoring
- Payment screening
- Politically exposed persons (PEPs) and adverse media screening
- Real-time sanctions and watchlist screening

ComplyAdvantage has experienced significant growth since its inception, raising $88.2 million through three rounds of venture capital funding and expansion of its operations with offices in the United States, Singapore, and Romania. The company serves over 1,600 businesses across the globe, including major financial institutions like Santander and Affirm, and clients have reported a 70% reduction in false positives and a 50% decrease in onboarding cycle time.

FICO, originally known as Fair Isaac Corporation, is a data analytics company headquartered in Bozeman, Montana. Founded in 1956 by Bill Fair and Earl Isaac, FICO has become a major player in the field of credit scoring and financial technology.
FICO offers a wide range of analytics software solutions and services, including:

- Credit scoring (the widely-used FICO Score)
- Fraud detection and prevention
- Decision management
- Customer communications
- Collections and recovery solutions
- Compliance tools

The company serves various industries, including banking, telecommunications, insurance, healthcare, and retail.

The FICO Score has become a standard measure of consumer credit risk in the United States. It plays a crucial role in lending decisions:

- Used in 75% of home loan originations
- Accessed by approximately 30 million American consumers (as of 2013)
- Helps increase consumer access to credit by providing a standardized risk assessment tool

FICO's influence extends beyond credit scoring, with its fraud protection services safeguarding over 2.5 billion credit cards.